Solyndra officials told a U.S. bankruptcy trustee Tuesday that no qualified bidders have come forward to buy the company and take over its manufacturing operations. Chief restructuring officer Todd Neilson said Fremont, Calif.-based Solyndra had received only one bid for a sale of the whole company. “it was extremely low-ball,” he explained. “it was mainly designed to take the equipment and the real estate at an extraordinarily low price.” Neilson said fewer than five potential bidders, mostly from other countries, [...]
Tag Archives: economic environment
Nov
23
Nov
21
-
Value of distressed home loans rises 20%
The tough economic environment and high consumer indebtedness levels have led to the value of non-performing home loans at local banks increasing to an estimated R25 billion to R30bn. This excluded distressed commercial properties and property developments, Auction Alliance chief executive Rael Levitt said on Friday. He said the estimated value of non-performing loans was 20 percent higher than in 2009, when distressed property sales were peaking. Levitt attributed this to the value of transactions being higher because many banks [...]
